News / Longevity of post-CNY slump catches container trades by surprise

Two months on from Chinese New Year and the traditional post-holiday blip shows no sign of abating on Asia-Europe routes, with the ocean container rate declines continuing.

Last week’s Drewry World Container Index (WCI) posted a week-on-week decline of 3% on Shanghai-Rotterdam and, while the Shanghai Containerised Freight Index’s Shanghai-North Europe route was flat, both indices reported week-on-week dips of 2.5% to 4% on Shanghai-Genoa.

Universal Logistics’ Jimmy Liu told The Loadstar: “Nearly two months after ...